First Trust Advisors LP lessened its holdings in Vedanta Ltd (NYSE:VEDL) by 7.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,282,255 shares of the basic materials company’s stock after selling 99,832 shares during the period. First Trust Advisors LP owned 0.17% of Vedanta worth $16,413,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of VEDL. Guggenheim Capital LLC increased its position in Vedanta by 15.4% in the first quarter. Guggenheim Capital LLC now owns 138,456 shares of the basic materials company’s stock worth $2,433,000 after purchasing an additional 18,503 shares during the period. Millennium Management LLC increased its position in Vedanta by 587.4% in the first quarter. Millennium Management LLC now owns 138,354 shares of the basic materials company’s stock worth $2,431,000 after purchasing an additional 118,226 shares during the period. Boston Advisors LLC increased its position in Vedanta by 25.1% in the second quarter. Boston Advisors LLC now owns 32,606 shares of the basic materials company’s stock worth $443,000 after purchasing an additional 6,532 shares during the period. Mondrian Investment Partners LTD increased its position in Vedanta by 36.4% in the second quarter. Mondrian Investment Partners LTD now owns 2,772,006 shares of the basic materials company’s stock worth $37,699,000 after purchasing an additional 739,340 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Vedanta by 54.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 95,828 shares of the basic materials company’s stock worth $1,303,000 after purchasing an additional 33,798 shares during the period. Institutional investors and hedge funds own 4.97% of the company’s stock.

VEDL has been the subject of a number of research reports. Goldman Sachs Group initiated coverage on Vedanta in a research report on Tuesday, August 28th. They issued a “buy” rating for the company. ValuEngine upgraded Vedanta from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st.

Shares of VEDL stock opened at $11.23 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.77. The stock has a market capitalization of $8.89 billion, a P/E ratio of 8.16 and a beta of 2.04. Vedanta Ltd has a 12 month low of $10.87 and a 12 month high of $21.99.

The company also recently disclosed a dividend, which will be paid on Tuesday, November 13th. Investors of record on Tuesday, November 13th will be given a $0.909 dividend. The ex-dividend date is Friday, November 9th.

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About Vedanta

Vedanta Limited operates as a diversified natural resources company in India. The company produces oil and gas, zinc, lead, silver, iron ore, copper, and aluminum. It also operates 1,980 megawatts (MW) thermal coal-based commercial power facilities; a 600 MW thermal coal-based commercial power facility in Jharsuguda; a 600 MW thermal coal- based commercial power facility in Korba; 274 MW wind power plants; and a 100 MW power plant.

Further Reading: Float

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Institutional Ownership by Quarter for Vedanta (NYSE:VEDL)

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